Asia: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Asia

The Asian market for vacuum pumps and air or gas compressors stood at $X in 2022, picking up by 7% against the previous year. The market value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Vacuum Pumps and Air or Gas Compressors in Asia

In value terms, production of vacuum pumps and air or gas compressors totaled $X in 2022 estimated in export price. In general, production, however, saw a mild decline. The most prominent rate of growth was recorded in 2020 when the production volume increased by 12%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports in Asia

In 2022, shipments abroad of vacuum pumps and air or gas compressors decreased by -10.3% to X units for the first time since 2015, thus ending a six-year rising trend. The total export volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 22%. As a result, the exports attained the peak of X units, and then shrank in the following year.

In value terms, exports of vacuum pumps and air or gas compressors amounted to $X in 2022. The total export value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 29% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

China dominates compressors structure, recording X units, which was near 80% of total exports in 2022. Taiwan (Chinese) (X units) took the second position in the ranking, followed by Japan (X units). All these countries together held approx. 9.9% share of total exports. Hong Kong SAR (X units), Thailand (X units) and South Korea (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to vacuum pump and air or gas compressor exports from China stood at +3.3%. At the same time, South Korea (+7.3%) and Japan (+3.6%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia, with a CAGR of +7.3% from 2012-2022. Hong Kong SAR experienced a relatively flat trend pattern. By contrast, Thailand (-1.8%) and Taiwan (Chinese) (-6.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +9.9 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest vacuum pump and air or gas compressor supplier in Asia, comprising 53% of total exports. The second position in the ranking was held by Japan ($X), with a 17% share of total exports. It was followed by South Korea, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +7.9%. In the other countries, the average annual rates were as follows: Japan (-0.5% per year) and South Korea (+2.8% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, picking up by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+11.7%), while the other leaders experienced more modest paces of growth.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports in Asia

In 2022, after five years of growth, there was significant decline in overseas purchases of vacuum pumps and air or gas compressors, when their volume decreased by -5.6% to X units. Total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.1% against 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 27%. As a result, imports attained the peak of X units, and then reduced in the following year.

In value terms, imports of vacuum pumps and air or gas compressors fell slightly to $X in 2022. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 19%. As a result, imports attained the peak of $X, leveling off in the following year.

Imports by Country

India (X units) and Thailand (X units) represented roughly 34% of total imports in 2022. It was distantly followed by Hong Kong SAR (X units), Turkey (X units), Japan (X units), China (X units) and Vietnam (X units), together mixing up a 37% share of total imports. South Korea (X units), Taiwan (Chinese) (X units), Pakistan (X units), the United Arab Emirates (X units), Malaysia (X units) and Indonesia (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of +12.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported vacuum pumps and air or gas compressors in Asia, comprising 23% of total imports. The second position in the ranking was held by South Korea ($X), with an 11% share of total imports. It was followed by Thailand, with a 9.6% share.

In China, imports of vacuum pumps and air or gas compressors increased at an average annual rate of +1.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+3.0% per year) and Thailand (+2.7% per year).

Import Prices by Country

The import price in Asia stood at $X per unit in 2022, growing by 5.3% against the previous year. Overall, the import price, however, showed a pronounced reduction. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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